One of the most popular quotes on LinkedIn belongs to Richard Branson: “If you look after your staff, they'll look after your customers. It's as simple as that.” Most organisations talk about how important their people are; but whereas they spend millions on their Customer Experience (CX), they only invest the bare minimum in their Employee Experience (EX). With employee engagement rates as low as 20% across the UK, perhaps it’s felt that talk is cheap in relation to caring about employees.
Denise Lee Yohn, author of Fusion: How Integrating Brand and Culture Powers the World's Greatest Companies, says that to be successful, people-related activities should shift from being, "...side-tasks to be delegated to Marketing and HR to fundamental business priorities that deserve your attention and care."
Deloitte defines it as: "A holistic view of life at work, requiring constant feedback, action and monitoring."
In practice, EX is the umbrella term for all people-related activity, as outlined below. To be clear, EX is not next generation employee engagement. Engagement is an outcome; the importance of which has been recognised as in recent years organisations have created dedicated roles and, in some cases, dedicated functions to help boost engagement levels.
What is EX?
- Included 11.5 times more in Glassdoor’s Best Places to Work
- 4.4 times as often in LinkedIn’s North America’s Most In-Demand Employers
- Listed 28 times more often in Fast Company’s Most Innovative Companies
- Listed 2 times more often in American Customer Satisfaction Index